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Thursday, March 10, 2011

WRAPUP 2-Valero to purchase Chevron UK refinery - source, (NYSE: VLO), (NYSE: CVX)

U.S. refiner Valero Energy Corp (VLO.N) has reached an agreement to buy Chevron Corp's (CVX.N) Pembroke refinery in Wales, according to a source familiar with the matter. The source said the price tag was around $2 billion, but Valero Chief Executive Bill Klesse disputed that figure on a conference call with analysts on Thursday. "That was not a Valero statement," Klesse said in his first comment on reports that Valero had agreed to buy the Pembroke refinery.

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